Indian operator Reliance Communications (RCom) has closed the sale of its Media Convergence Nodes and related infrastructure to Reliance Jio.
In January, Jio won its bid to acquire RCom’s spectrum, fibre and towers for a total sum of INR250 billion. The operator has obtained the media nodes for INR20 billion ($285 million). The timeframe for future sales has not been published.
RCom is selling off most of its telecom assets to cut its debt following the collapse of a proposed merger with Aircel last year. Having reached an agreement for its core assets, it looked set to focus on the enterprise market, but a dispute with Ericsson prevented a further sale.
Now that this has been resolved, RCom has reportedly attracted buyers for its remaining infrastructure, which could bring its 15-year involvement in India’s telecoms sector to a close.